STEZX Fees and Costs — International Strategic Equities Portfolio, Class Z
Data updated: 2026-08-26
The net expense ratio is 0.71%: a 0.66% management fee plus 0.05% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $10.1M in broker commissions, 0.1203% of average net assets, and portfolio turnover was 94%.
STEZX Fees and Expenses
Annual operating expenses and sales charges of STEZX. Prospectus, as of September 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.66% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.05% |
| Gross expense ratio | 0.71% |
| Fee waiver | — |
| Net expense ratio | 0.71% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
STEZX Costs Over Time
On $10,000 invested in STEZX, assuming 5% a year before costs, total costs come to $521 over 5 years, cutting the return by 0.87% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.71%) | $75 | $233 | $405 |
| Trading costs (broker commissions) | $13 | $39 | $69 |
| Lost growth on money paid in costs | $0 | $13 | $48 |
| Total costs | $87 | $286 | $521 |
| Value after costs | $10,413 | $11,290 | $12,242 |
| Impact on return, per year | 0.87% | 0.87% | 0.87% |
STEZX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending September 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1203%
- Total broker commissions: $10.1M
- Bought from dealers (principal trades, not a cost): $4.8B
- Portfolio turnover (prospectus): 94%
- Securities on loan, average value: $8.6M
- Net income from securities lending: $14K (0.000% of average net assets)
STEZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $2.0M | 21.17% |
| J.P. Morgan Securities LLC | $1.8M | 19.25% |
| Morgan Stanley & Co. LLC | $1.4M | 14.59% |
| BofA Securities, Inc. | $1.1M | 11.93% |
| UBS Securities LLC | $1.1M | 11.21% |
| Jefferies LLC | $854K | 8.93% |
| Barclays Capital Inc. | $483K | 5.05% |
| Citigroup Global Markets Inc. | $427K | 4.47% |
| TD Securities (USA) LLC | $184K | 1.93% |
| BNP Paribas Securities Corp. | $141K | 1.47% |
STEZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $4.7B | 100.00% |
International Strategic Equities Portfolio Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| STEYX | Advisor Class | 0.70% | none |
| STEZX | Class Z | 0.71% | none |
| STESX | SCB Class | 0.93% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.